Renovation costs are rising, but affordable upgrades are possible. Planning, creativity and DIY strategies can help homeowners save without sacrificing results.
NEW YORK – Renovations around the house require an investment of time and often considerable amounts of money. Findings from the 2024 U.S. Houzz & Home Study show that home renovations are becoming more expensive.
The median renovation spending for homeowners has gone up 60% since 2020. Angi, a home services website, reports the average renovation cost for homes between 1,250 and 1,600 square feet is $51,772, but the final cost of home renovations depends on the scope of the project.
Homeowners who are conserving funds can rest assured that it is possible to make meaningful changes both inside and outside a home without breaking the bank. Here are some ways to renovate a home on a budget.
Create a budget and don't waver
Figure out exactly what you can afford for a renovation and then make that your maximum dollars spent. Research comparable projects in your area and be honest about whether you can afford the renovation as-is or if you must adapt ideas to fit your price. Make sure to build in a cushion of around 15 to 20% for any unforeseen expenses that may arise once a renovation is underway.
Read more: https://www.floridarealtors.org/news-media/news-articles/2025/07/smart-ways-renovate-budget